Copper prices surge nearly 8% on MCX amid supply worries. Is it the right time to invest?

Key Highlights

• The key metal for renewable energy and power infrastructure jumped as much as 6.6% to $12,960 a ton on the LME as trading resumed after a two-day public holiday in the UK.
• On Comex in New York, futures were up 1.2% to $5.908 a pound after a 5% surge on Friday.
• The latest sharp rally crowns a remarkable year for copper, shaped by major unplanned mine disruptions, uncertainty surrounding US President Donald Trump’s trade policies, and intense strain on global smelters.
• However, concerns are emerging that prices may have risen too far, with buoyant sentiment in precious metals markets potentially spilling over into copper as well.
• President Trump is expected to decide on import tariffs for refined copper by mid-next year, and US prices are already trading above LME levels on expectations that the tariffs will be imposed.